Laserfiche WebLink
<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />Deputy City Manager <br />November 15, 1989 <br />Page Three <br /> <br />For those wishing to purchase a replacement dwelling in Santa Ana, we <br />offer several financial incentives in our residential loan program to <br />assist with their purchase, such as: the Mortgage Assistance Program, <br />infill new construction loans, and low interest rehabilitation loans. <br />The actual loan amounts depend on family size and income. <br /> <br />Develooment Process <br /> <br />The following are the basic steps involved in soliciting proposals for <br />development of a site within the project area. <br /> <br />1. <br /> <br />Identify project concept and develop an action plan outlining the <br />major tasks and estimated time frames. <br /> <br />2. <br /> <br />Mail statements of interest in participating to affected owners and <br />tenants, as well as a description of what the Agency is proposing to <br />undertake on the property. <br /> <br />The owner/tenant is afforded 30 days to respond in writing whether <br />or not he wishes to participate. If he so desires, an additional 30 <br />days is provided to submit a proposal. If additional time is <br />requested, it is usually granted. <br /> <br />During this period, the project manager engages in regular dialogue <br />with the owners and/or tenants concerning the future of their <br />property. <br /> <br />3. <br /> <br />The proposals from the owners/tenants are then evaluated and a <br />determination is made concerning their feasibility and compliance <br />with the objectives of the redevelopment plan. <br /> <br />4. <br /> <br />"If an owner/tenant i~. not selected to participate, the Agency then <br />solicits proposals from developers. <br /> <br />5. <br /> <br />A developer is then selected and granted an Exclusive Right to <br />Negotiate (typically 6 to 9 months). The owners and tenants are <br />notified as to when the Redevelopment Commission and Agency are <br />scheduled to act on this item. <br /> <br />During this time, the developer is encouraged to negotiate with the <br />owners/tenants to either purchase their property or work out an <br />arrangement to include them in the project, either as a tenant/user <br />or equity partner. <br /> <br />6. <br /> <br />If the Agency is required to be involved in the property <br />acquisition, we follow the procedures discussed in the previous <br />section. <br /> <br />The above does not preclude a property owner or tenant from <br />approach in¡ the Aasnc~ t~rsdevelop his propert~ prior to the Aaenc~ <br />lo11o1t1n¡ development propolall, <br /> <br />Exhibit A <br />Page 3 of 4 <br />